@wyattjdecker,
It's a rough situation.
Here is my take:
1. You either trust her or you don't.
2. If you don't trust her, then end it now because it's not going anywhere productive.
3. If you DO trust her, then trust her choice in choosing you. Show her you trust her.
4. After your relationship has re-solidified, and you have proven to her that you are a changed person (in her eyes, not yours mind you) then if she's still talking to this guy you might approach the subject again.
It's quite possible that she doesn't want to sever ties with this individual for fear that you'll revert back to the way you were, the way she didn't care for you.